Is bitcoin difficult to understand?

[Anonymous No.22432579]

People find it difficult to understand what is cryptoccurrency most especially bitcoin,but their interested over cryptoccurrency.
I just suggest that their should be a TEXT BOOK that will discuss about cryptoccurrency in order to educate people who are interested because referring them to online shows that know Manuel evidence of cryptoccurrency. And if their is any article that guide bitcoin.
For me, bitcoin is as easy as gambling on a casino like EarnBet (a decentralized casino operating on the WAX chain and providing gaming services on the blockchain platform)

[Anonymous No.22432731]

In the world of internet, and an online currency, why on Earth would you want a text book? Frikin' nerd.
I do like the concept of the casino you mentioned.

[Anonymous No.22432788]

Wait, you haven''t read this anon??

[Anonymous No.22432870]

>>22432788
Oh wow. Who's the author.

[Anonymous No.22432909]

People aren't interested in Bitcoin because it's been flat for YEARS now. So on the one hand, if it goes up a tiny bit, people sell. On the other hand, no one is interested in buying. It's only a matter of (short) time before word spreads that there's no new blood coming to revive and feed the Ponzi and to drop the bags. See you at ZERO. #WhiteSamsonOption

[Anonymous No.22432941]

>>22432870
Saifedean Ammous

[Anonymous No.22433083]

>>22432579
people dont understand what money is of course the are going to stuggle with BTC,

it requires, financial and economic and programing / IT to understand.

So yeah.

Sure apps will come for the masses, but they will be forced to jump ship when thier $USD becomes tetherised or <insert> your stable coin

[Anonymous No.22433821]

>>22432579
https://www.amazon.de/dp/B00M6KGJ2K/

and

https://www.amazon.de/gp/product/1688735925
and yes, bitcoin is difficult to understand, this playlist might help:

https://www.youtube.com/c/TheoryofBitcoin/playlists

[Anonymous No.22434092]

Also, this

https://livebook.manning.com/book/grokking-bitcoin/chapter-1/

[Anonymous No.22434111]

>>22432579
you dont need to know how the tech works t make money from it.

[Anonymous No.22434120]

>>22433821
Those books are shit and shilling the BitcoinSV shitcoin not the actual Bitcoin.

[Anonymous No.22434128]

>>22432579
Idk wtf you're trying to say but this is the absolute best text book on cryptocurrency
https://web.getmonero.org/library/Zero-to-Monero-2-0-0.pdf

Honestly, for most people it is difficult to understand. Everything is difficult for normies though. Why do you think Jews have got away with their blatant scam of central banks and usury for so long?

>>22432788
This is just a shitty and inaccurate economic history book with a chapter shilling bitcoin.

[Anonymous No.22434138]

>>22432579
>I just suggest that their
I suggest reading an English textbook

[Anonymous No.22434210]

>>22432788

Yep, this is THE book to read if you want to understand the economic implications of Bitcoin.

You have to disregard a few chapters because the author is a rabid ancap ball meme, but the rest of it is primo. You'll want to sell everything you own and go all-in once it clicks.

[Anonymous No.22434365]

>>22434210
Whatever implications there are are implications of some future fiat cryptocurrency. If you're all-in Bitcoin, you're about to be a very poor golem. #WhiteSamsonOption

[Anonymous No.22434713]

>>22434365

>future cryptocurrency

yes

>fiat

no

It will be pegged to BTC in some manner because there will be no other alternative. Once given the opportunity for sound money again, this time without the possibility for obfuscation and centralization of supply, people will take it. the gradual capital flight to Bitcoin is impossible to stop, and indeed it happens slow enough that few powers have even attempted. but eventually the tipping point will be reached -- and that comes when national banks and governments begin to buy out of geopolitical fear. that will probably occur post-2024 halving. this current bullrun is all about financial institutionalization and widespread recognition of a competitor to gold for store-of-value. Next halving Bitcoin will of course be twice as scarce as gold, and the "global reserve currency" narrative will begin.

[Anonymous No.22434873]

>>22432788

Saifedean Ammous is a known con-man. BTC maximalist moonboy who lashes out like a little boy at anybody who criticizes him, then deletes his tweets afterwards.

BTC is incapable of serving as a currency. Can't serve more than 0.1% of the world's population without requiring second-layer solutions which track and trace everything you do. If you believe in crypto as a concept, you should be in coins like XMR or BCH. But it's dubious that any crypto will have value once we return to a gold standard.

[Anonymous No.22435043]

>>22432788
>>22434713
I'm reading the preface right now and wondering how you deluded faggots avoid acknowledging that Bitcoin has NO UTILITY. The best stores of value long-term are stock shares. No one stores value in a currency and holds as little currency as possible at any given time. Currency is a hot potato. Just think for one second in your miserable life. What do you want to buy? Land, let's say. Well, land is owned by corporations, and if you own a share of the corporation, you own the land. I hope you see the various ways I would be going with this if it weren't too tedious to elucidate fully here. The reason jews don't care about inflation is that they own what is bought with whatever currency is current at any given time: STOCKS. Eight billion people work to pay them dividends, and in the meantime, their value is stored as land, equipment, trade secrets, intellectual property, goodwill, and all the rest. You're all hopelessly deluded golem. #WhiteSamsonOption

[Anonymous No.22435068]

>>22435043
>No one stores value in a currency and holds as little currency as possible at any given time.
Sorry. #WhiteSamsonOption
>>No one stores value in a currency, and everyone holds as little currency as possible at any given time.

[Anonymous No.22435077]

>>22434873
anon money is cancer you dumbass kid

[Anonymous No.22435091]

>Difficult to understand
Kek. It's nothing more than a cryptographic Token that prevents double spending through an extremely costly and slow proof of work. A decade ago, revolutionary, today something that every first semester CS loser can make

[Anonymous No.22435166]

>>22435077

> Buy Bitcoin!

Why?

> It's the new money for the world!

Why? Does it offer privacy?

> No

Is it a superior form of currency?

> $100-fees and 3-day transaction times

What do I do with it then?

> NOTHING! ISN'T THAT EXCITING?

[Anonymous No.22435917]

>>22435166
kek

[Anonymous No.22435958]

People just like to shit on bitcoin because they think it was successful solely because of the tech and other tech has eclipsed it.

I think that's nonsense. Other elements were created that were more rare and useful than gold. It still doesn't make gold worthless. Bitcoin has Fidelity looking to create funds for large scale investors to jump into bitcoin. It's not like they are going to pump your bag of kleros or other shit projects any time soon.

[Anonymous No.22436068]

>>22435958
No, stupid. If Fidelity is making a fund, it's because boomer goyim are too tech illiterate to dump their retirement funds into jewish pockets, so the jews have to bring the crypto to them in a familiar form. Next 401k managers will be making the decision to trade cash for jews' bags for them without their knowledge. Always pick stocks yourselves instead of relying on people who want you dead to manage money for you. #WhiteSamsonOption

[Anonymous No.22436178]

>>22436068
kel, ok

[Anonymous No.22436259]

>>22432579
I have tried to explain Bitcoin to my mom at least 10x. Every time i mention “mining” Bitcoin, her brain short circuits and she starts over from the beginning of trying to figure it out. I have to explain to her all over again how Bitcoin is not a physical currency, and that the pictures of metal coins that the news uses to explain it are just for show. Mining is just the term used for contributing computing power to the network to make it faster and more secure. Its the strangest fucking thing. Its legitimate NPC robot tier short circuiting. Its like the phrase “mine Bitcoin” erases her knowledge of Bitcoin. She isn’t unusually dumb otherwise, i would say slightly above average intelligence for most things. Her inability to grasp the concept has convinced me that most normies will literally never understand it, but then again, most normies have no idea what fractional reserve banking and quantitative easing is either and they still use the dollar.

[Anonymous No.22436284]

>>22436259
>mining
>contribute computing power
>to make it faster
your mom is probably smarter than you. Kek, contribute to make it faster. Shill her BSV retard

[Anonymous No.22436316]

>>22432788
proof that this board has turned into reddit. everyday i wish bitcoin to go to triple digits and financially destroy all you fucking idiots, i cant see a world where bitcoin goes up and makes retards like this guy rich, i just cant

[Anonymous No.22436334]

>>22436284
Nice rebuttal. Allow me to respond at a level of reasoning that you are capable of comprehending...
>NO U!

[Anonymous No.22436357]

>>22432579
no it's simple hodling bitcoin is the smart thing even tho it will feel like being tod
https://www.youtube.com/watch?v=sMwXuFwSiaU

[Anonymous No.22436374]

>difficult to understand

What's difficult to understand about a ponzi? All 'cryptos' are a ponzi and we're all here just to make enough money before the music stops.

[Anonymous No.22436380]

>>22436334
again,
>Make it faster
You moron don't get what buttshit is yourself. How can a pajeet brain like you explain it to anybody else, let alone sell it to them. And the most scammy, sell the shit to your own mother. There is a special place in hell for faggots like you

[Anonymous No.22436460]

>>22436380
I dont sell or shill it to her retard. She ASKS about what it is. I explain it to her, and she doesn’t understand.
And yes, increasing the hash rate of the network makes it faster. Imperceptibly so, but its a cumulative effect. Its no wonder you are trying to shill BSV, its about what I would expect from room temp IQ morons.

[Anonymous No.22436487]

>>22436259
>to make it faster
this one knows what he bought

[Anonymous No.22436517]

>>22436460
>Increasing the hashrate
>makes it faster

[Anonymous No.22436704]

Honestly I see BTC just being tokenized on ETH, ADA, TRON, etc and it just being a very well established collateral within DeFi. Pax Gold is also pretty good at this use case.

Either way - I think that's going to lead to these smart contract platforms being the true scalability for Bitcoin, it wont even matter much how fast the base chain is and they can probably get away with just making more efficient use of small blocks in the short term without it making that much of a difference to its adoption.

ETH will also make for great collateral, but its generally more useful to have ETH liquid. Paying for gas, trading for a new ERC-20. BTC people will less desperately feel the need to liquidate it all the time. It's pretty much designed to hold, so why not just hold it in a smart contract that you can borrow against.

[Anonymous No.22436756]

>>22436704
AOL was also established at one point, yahoo was a well respected search engine, and there was a time where nothing was faster than a horse. Bitcoins time is up, late coming wallstreet fags managed to prop it up for another 2 years past its date of expiry by shorting it - but even they lost appetite

[Anonymous No.22436795]

>>22436756
>AOL was also established at one point, yahoo was a well respected search engine, and there was a time where nothing was faster than a horse. Bitcoins time is up, late coming wallstreet fags managed to prop it up for another 2 years past its date of expiry by shorting it - but even they lost appetite

But with wbtc and renBTC it can move just as quickly as ETH can... its not limited to 7tps, only if you're transacting on the base chain. It likely wont make sense to do much activity there, but it will still be propped up by its universality across layer 2 chains.

Horses cant be upgraded with Engines. BTC can be updated with ETH, ADA, Tron, etc by being tokenized.

[Anonymous No.22436838]

>>22436517
so, what does increasing the hashrate do?

[Anonymous No.22436840]

Read The Internet of Money or watch some of Andreas Antonopoulos' talks

[Anonymous No.22436850]

>>22436795
kek, you sound like a horse trader in the 40's trying to sell a lame mule as an investment, because well, you still can buy a trailer and place it in it and drag the mule around because, eh, the mule will keep his worth. Bitcoin maxis are truly retarded

[Anonymous No.22436900]

>>22436838

Increases the security of the network, but the difficulty will just increase so that blocks still only come every 10 minutes on average which still limits you to the 7tps on the base chain.

Unless BTC is forked to change the 10 minutes per block target, more efficient data storage on the base chain is discovered, or the block size are increased there wont be an increase beyond 7tps.

Lightning network or other blockchains as layer 2 is the likely way that BTC moves forward. My prediction is that BTC just gets tokenized everywhere and it is trusted as it will survive if ETH, ADA, and other 2nd layer blockchains fail or have more rapid shifts in their adoption and use.

[Anonymous No.22436901]

>>22436838
technically speaking it makes it more expensive to DIRECTLY attack the network securing the token from being double spent. That's all. It is a more than suboptimal solution

[Anonymous No.22436953]

>>22436850

Fair enough fellow anon. We'll see how it all turns out.

[Anonymous No.22436969]

>>22436900
>>22436901

so, it doesn't matter at all, how many miners are at work, the time for mining one btc is always the same, the network is just more secure?

[Anonymous No.22437005]

>>22436969

Yeah, pretty much. The only time it really matters is if there is a rapid change in the amount of miners. If there is a sudden spike in miners, blocks may come out temporarily at a rate of every 5 minutes, but will adjust back to 10 eventually as difficulty adjusts. Same for the reverse scenario.

But the miners are the reason that its pretty much impossible to 51% attack BTC outside of extremely large mining pool collusion (china) or something like that causing a problem.

[Anonymous No.22437026]

>>22436969
just more secure to be DIRECTLY attacked. As there is not really any development happening the old bugs and issues still persist let alone the increasing price to secure the network do to the mechanism of adapting the difficulty the higher the hashrate rises while it has to compete with distributed ledger technology that found, cheaper, more secure and elegant ways to solve the double spending problem and other crypographic problems

[Anonymous No.22437367]

>>22436969
this is what difficulty adjust does.
new hardware makes mining more efficient for the adopters and makes mining less efficient for everyone else.

[Anonymous No.22438165]

>>22437005
>>22437026
>>22437367

thanks guys.
I remember a few (10ish) years ago on /b/ I came across a how to mine bitcoin template, the new currency for the internet. I really tried to understand whats going on, but I couldnt wrap my head around it, my pc was shit tier and I gave up. I don't know if bitcoin wallets even existed back then. A few years after reading the template I read the stories about bitcoin used for drugs and stuff and the pizza delivery stories. we all know where we are today and one thing is for sure, do not underestimate the how to templates on 4 chan.
I wonder how many of those early miners spend their bitcoins for stupid shit back then and how many had the foresight to hold until today.

[Anonymous No.22438441]

>>22432579
most people think facebook is the internet, only access 'the internet' with their phones, have email provided by hotmail or gmail and are sub 100 IQ.

100 IQ is the average for European heritage. That means many people are below 100. When you factor in niggers, people in general are just fucking stupid. They will use whatever they are told to use.

[Anonymous No.22438519]

>>22432579
bit dot ly slash stavids has easy to understand videos for the zoomer who needs to watch someone clicking around on the same screen that they see.

[Anonymous No.22439275]

>>22438441
Eventually there should be some Darwinism to it. People will end up using what works and provides advantages. For example btc dark net markets have mostly died out now and xmr is taking over.

[Anonymous No.22440028]

>>22439275
You have a big problem there because what works already has universal adoption: credit cards, Zelle, money orders, cashier's checks, cash, PayPal, you name it. So AT BEST cryptocurrency doesn't make something that already works much worse and reaches a comparable rate of adoption. You don't have a case for payments. What about store of value? Well, I can own shares of companies all over the world, and people who aren't even born yet can be born, mature, and pay me dividends once my agents hire them. Or I can hope enough fools are still falling for a Ponzi scheme after all that time that somehow I can offload a bag for a better return. The choice is obvious. #WhiteSamsonOption

[Anonymous No.22440075]

>>22440028
>company shares
>Store of value
what is it with redditors moving en masse here? Was some normie sub deleted again for being wrong think?

[Anonymous No.22440086]

>>22439275
>>22440028
Which is to say, in this Darwinian scenario, crypto is like a genetically engineered artificial species that enters an ecosystem with all niches already filled and excels at nothing and goes extinct as soon as the engineers give up trying to introduce something so fucking stupid. #WhiteSamsonOption

[Anonymous No.22440108]

>>22440075
Whatever point you think you're making, diversification addresses it, child. #WhiteSamsonOption

[Anonymous No.22440119]

>>22440108
well go back to twitter hashfag

[Anonymous No.22440245]

>>22440028
>>22440086
Monero is digital cash. Usable by everyone but essential where payment processors won't give you an account. Black markets and grey markets are very large primary niches. It's still relatively new so you can expect new uses for it to pop up, things that aren't possible with the old systems.

[Anonymous No.22440436]

>>22432579
literally no one understands bitcoin